@Doug FrischShould we be wondering why you want to elect to have your LLC taxed as a C Corp? 

In light of this, you might consider consulting with a tax professional to see if it makes sense to open a new LLC for your flipping activity and possibly make an S-Corp election to run your own payroll rather than pay self employment tax on all your buy & flip profit.Keep in mind this is general information, not tax advice, make sure to consult a tax professional for your specific situation.

Or should we wait till the election is done and hope for the price to drop?

Below are some ideas I had:Run for President of the HOATry to increase HOA dues and reservesHOA aggressively foreclose on past due HOA dues and buy them at auctionTry to prevent any MLS sales by making owners aware of my intentions and reaching out to them directlyTry to disqualify complex for conventional/FHA financing due to owner/investor ratio rulesAfter disqualified reach out to all owners at the same time and offer to purchaseContinue to purchase units off MLS if any become availableAny thoughts or recommendations?

When interest rates hit 5% I expect to see buyers flood back to the market and prices go up again. 2024 is an election year which traditionally keeps transactions low so another thing to keep an eye on.

Of course rates vary daily, so anyone else looking at this thread in the future please be conscious of the date this was posted.Zach------------------CHARLIE HILLEMANN | Executive Vice President, Stifel BankORGreg Iverson Vice President - Mortgage LendingBank of Springfield

From there, you can elect to be taxed as a S Corp or C Corp. 

It is an election year.

There is a reason that every 4 or 8 years the other party wins the election.

Improvements would generally have to be depreciated, except improvements under $2,500 can be expensed in the current year if you make the "de minimis election" on the return.